Best Cheap Solar Stocks to Buy Right Now

Solar stocks are taking a hit this year amid a declining demand in China, increasing tariffs and uncertainty due to President Trump’s plans about climate change and Paris agreement. But analysts think that the world is bound to move towards the solar energy, as it’s the only reliable and clean energy source. Several European countries have already started using solar energy as one of the primary energy source for daily utilities. Famous investors are also bullish on the prospects of solar stocks. Earlier this year, Warren Buffett announced that he had a “big appetite” for solar stocks. If you are looking to invest in the future of energy, here are the best solar stocks you should buy right now.

First Solar, Inc. (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) is performing impressively in 2017. The stock is up over 50% since the start of the year. The company beat analysts’ estimates for the first and second quarter revenue. Deutsche Bank recently said in a report that First Solar has a potential to touch $110. The bank, however, linked the stock performance to the International Trade Commission’s section 201 outcome on Friday. The bank currently has a “Buy” rating for the stock, and a price target of $65. Analysts think that First Solar can easily avoid all the upcoming tariffs because it produces thin-film products, while the tariffs are expected to target silicon solar cells.

SunPower Corporation (NASDAQ:SPWR)

SunPower is a decent solar stock to buy. The company is slowly coming out of the bankruptcy fears. Analysts think that the company’s future is safe as oil giant Total S.A. owns about 60% stake in the company. SunPower recently bought a new technology from Congenra Solar to improve its solar panels. The technology will make SunPower’s solar panels suitable for utility projects. The stock is up about 11% since the start of the year.

Vivint Solar Inc (NYSE:VSLR)

Vivint Solar Inc (NYSE:VSLR) is a solar rooftop and storage company. The stock made headlines in June after a bullish note from Goldman Sachs. Vivint’s first quarter revenue increased by 200% year over year. The company has the lowest installation charges in the industry. Earlier this month Vivint Solar announced its plans to expand into EV charging and smart energy solutions. The company entered into a deal with ChargePoint, the biggest EV charging company in the world. After the deal, ChargePoint Home chargers will have Vivint Smart Home solutions integrated in them. Earlier this year, Vivint Solar also signed a deal with Mercedes-Benz Energy for home energy solutions.

Canadian Solar Inc. (NASDAQ:CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQ) is an excellent solar stock to buy right now. The stock has already gained 30% since the start of this year. Recently, Downgate Hill Capital said in a report that Canadian Solar is trading at a big discount, and the stock deserves $35 price. The company has been consistently profitable over the past few years. It has installations all over the world, including Canada, US, China, Brazil and Japan. Canadian Solar recently announced that Recurrent Energy, one of its subsidiaries, had signed a 15-year Power Purchase Agreement (PPA) with Peninsula Clean Energy. Last month, Canadian Solar’s 7.3 megawatt-peaks solar photovoltaic (PV) plant started commercial operations in Japan.